Has the NZDUSD just formed an inverse head & shoulders?
We’ve previously mentioned the head & shoulders formation is the most reliable, today we put that to the test.
Our free signal;
BUY NZDUSD at 0.6599
As previously mentioned, the head & shoulders formation tends to indicate a long term change in direction. Will that claim hold today?
Although a retest of the neckline is a possibility, a stop loss has been placed beyond the 0.658-0.657 zone. if the neckline retest fails, we can expect a rally in the upward direction and a complete change in direction as expected.